It’s the 7th inning stretch! Or is it? If you’ve listened to the industry leaders and various economists out there, the jargon is “we’re in the 7th inning” of this bubble. Personally, I hope they are wrong and we’re really in the 2nd! However, if “they” are right and things are going to slow down here sooner versus later, it’s very important that we hunker down and find that right job opportunity and join a strong and viable company!
A few things to consider:
Location/commute: I’m in the Bay Area, but from what I hear, the traffic congestion is this bad across the State. Why bring this up? Well, a few years ago it wasn’t so bad when the unemployment rate was quite a bit higher. Fortunately or unfortunately, however you want to spin it, I think we’ve maxed the traffic flow and it will only get worse later on down the road. When I used to search for candidates, I’d search within a 30 mile radius of their home location and that was usually a “doable” commute. However, now if I search out that far, candidates tell me that it’s just not an option and 15 miles is sometimes too far! I’m not discounting work/life balance as it’s important to me too, but I’m also seeing people pass on amazing opportunities due to a potential hour+/- commute. My suggestion is add location as part of the equation but not the only factor in a job decision. Especially in the commercial real estate world, you may be hired to manage Building X but given the fluidity of the real estate market, that building could be sold and another acquired in a different location. Or in the 3rd party management world, extreme chances are you will be managing a different portfolio down the road anyway.
Company/opportunity: My suggestion is to look at the company overall, their history and stability, and the opportunities they may possess in the future. Again, if you are in commercial real estate, the building or portfolio you are managing when hired may (and most likely will) change in the future. Flexibility is key in this industry.
Compensation package: Evaluate the entire package of a job offer which includes base salary, bonus potential, benefits, growth opportunities within, etc. It’s not “all about the base”!
As I wrote in a blog over a year ago called “Seize the Moment”, we are still within that bubble and it’s important to seize the moment while the opportunities are still abundant! Don’t wait until the 9th inning to get out there!